Audit Lowe Down – Australian Public Companies: Are You Ready for the Consolidated Entity Disclosure Statement?

Lowe Lippmann Chartered Accountants

Australian Public Companies: Are You Ready for the Consolidated Entity Disclosure Statement?


For years ending on or after 30 June 2024, Australian public company financial statements prepared under the Corporations Act are required to include a Consolidated Entity Disclosure Statement (CEDS). This includes not-for-profit companies limited by guarantee who are not ACNC registered.


The CEDS aims to provide transparency about entities within a company’s consolidated group through disclosure of information such as the name of each entity, incorporation details, type of entity and tax residency.


One crucial aspect of this new requirement is that materiality does not apply, every entity must be included, no matter how small. Directors must make a declaration that the information is true and correct, adding another layer of accountability. The auditors are required to provide their opinion on the CEDS.


The CEDS is generally located after the last note in the financial statements and before the auditor’s opinion.


This is a new addition to the Corporations Act (s295(3A) legislated with little notice and in collaborating with our clients, we have encountered complexities, particularly in determining the correct tax residency for some subsidiaries. This has often led to detailed discussions involving entities, their tax advisors, and auditors to ensure compliance.


We are in the middle of 30 June 2024 reporting season which means it is time to review your group structure and start gathering the necessary information and obtaining expert advice if necessary. 


Please do not hesitate to contact your Lowe Lippmann Relationship Partner if you wish to discuss any of these matters further.

Liability limited by a scheme approved under Professional Standards Legislation


Tax Alert - Transfer Balance Cap indexation & Superannuation changes

February 5, 2026
Transfer Balance Cap indexation & Superannuation changes Following the recent release of the December 2025 quarterly CPI figures by the Australian Bureau of Statistics’, the general transfer balance cap ( TBC ) will increase from $2 million to $2.1 million from 1 July 2026. This is applicable for superannuation fund members considering starting their first retirement phase income stream in 2026–27. This could provide tax effective retirement pension and non-concessional contribution opportunities for some members. The Australian Taxation Office needs to formally confirm this increase.

Practice Update – January & February 2026

February 2, 2026
Mandating cash acceptance The Government recently announced that it was delivering on its commitment "to mandate cash acceptance for essential purchases by finalising regulations that require fuel and grocery retailers to accept cash from 1 January 2026." The changes mean that, from 1 January 2026 , most food and grocery retailers must accept cash for in-person transactions of $500 or less between 7am and 9pm. Small businesses with aggregate annual turnover under $10 million are generally exempted from this mandate. However, this mandate still applies to small businesses that choose to share a trademark with a large retailer. The Government noted that, in addition to the cash mandate for fuel and groceries, consumers also already have the option to pay their bills, including utilities, phone bills and council rates, in cash at their local Australia Post outlet through Post Billpay. The Government will review this mandate after three years, to ensure it is functioning as intended. We prepared a Special Topic article within our Practice Update - December 2025, if you want to read more on this topic – click here .

Tax Alert - Preparing your business for Payday Super changes starting 1 July 2026

January 21, 2026
Preparing your business for Payday Super changes starting 1 July 2026 From 1 July 2026, employers will have to pay their employees’ compulsory Superannuation Guarantee ( SG ) contributions at the same time as they pay their salary and wages (ie. ordinary time earnings, OTE ). This is a change in the frequency of the payment rather than its calculation. With less than six months remaining, we believe it is very important to start preparing your business for these changes. We will outline some actionable steps that can be taken now to help manage the process to be compliant with the new changes leading up to 1 July 2026. These changes will apply to all Employers, whether they have pay cycles weekly, fortnightly, monthly or irregularly. SG contributions must generally arrive in an employee’s chosen super fund within 7 business days of each payday . Please note that in November 2025 we released a Tax Alert after the payday super rules received Royal Assent and became law summarising the changes employers need to be aware of - to read click here .
More Posts